Anthropic, Macquarie Asset Management and GIC formed Theseus Infrastructure with Anthropic as anchor tenant.

Announced August 10, the platform will develop, operate, and lease data centers to Anthropic under long-term agreements, with Macquarie-managed funds and GIC owning the platform and funding the majority of per-project equity. Structurally this is Anthropic doing what OpenAI did with Stargate: moving capex off its own balance sheet. The politically interesting commitment is that Anthropic pledged to pay 100% of grid-upgrade costs and cover consumer electricity price increases attributable to its own demand. Read alongside OpenAI's letter to Governor Abbott on responsible Texas infrastructure, and siting concessions are now a standard input to where frontier compute physically lands.